Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The High Court held that the Central Board of Indirect Taxes and Customs (CBIC) cannot be directed to clarify the applicability of Goods and Services Tax (GST) on Battery Energy Storage Systems (BESS). GST is chargeable under the Central GST Act, State GST Act, and Integrated GST Act, and any contentious issue regarding its applicability must be resolved by referring to these statutes and rules. The statutes do not require CBIC to entertain queries from taxpayers or provide clarifications based on their queries. CBIC can issue orders, instructions, or directions for uniformity in implementation, but not clarifications on specific queries raised by taxpayers. The petition was dismissed as highly delayed, and any apprehensions about the terms and conditions should have been clarified during the Pre-Bid Meeting.
The High Court held that the Central Board of Indirect Taxes and Customs (CBIC) cannot be directed to clarify the applicability of Goods and Services Tax (GST) on Battery Energy Storage Systems (BESS). GST is chargeable under the Central GST Act, State GST Act, and Integrated GST Act, and any contentious issue regarding its applicability must be resolved by referring to these statutes and rules. The statutes do not require CBIC to entertain queries from taxpayers or provide clarifications based on their queries. CBIC can issue orders, instructions, or directions for uniformity in implementation, but not clarifications on specific queries raised by taxpayers. The petition was dismissed as highly delayed, and any apprehensions about the terms and conditions should have been clarified during the Pre-Bid Meeting.
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